Republic Steel
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Republic Steel was once the third largest steel producer in the United States.
The Republic Iron and Steel Company was founded in Youngstown, Ohio, in 1899.
In 1927 Cyrus Eaton acquired and combined Republic with several other small steel companies, with the goal of becoming large enough to rival the United States Steel Corporation. The Great Depression made things difficult, but eventually the newly named Republic Steel Corporation became America's third largest steel company, trailing only U.S. Steel and Bethlehem Steel. Its headquarters was in Cleveland, Ohio.
Republic Steel was notable for its labor problems during this time, as evidenced by the 1937 documentary film Republic Steel Strike Riot Newsreel Footage, but relations improved after World War II.
In 1939, Republic Steel acquired mining rights, property, and the employees of the Chateaugay Ore & Iron Company in Lyon Mountain, New York. It has been widely rumored that this acquisition was to provide the corporation with iron ore that is extremely low phosphorus with little or no impurities (this is typical for iron ore veins in the Adirondack magnetites). Republic Steel shut down the mining operating in Lyon Mountain in 1967 due to the prohibitive cost of extracting the ore from the depth of 3,500+ feet below the surface. Only three buildings remain of the once bustling mining operation; they have been subject to vandalism and have been left in a state of disrepair. The property is now in the possession of the Town of Dannemora (New York).
Republic Steel remained prosperous until the 1970s, when rising foreign imports, labor costs, and other issues caused severe stress at Republic and throughout the American steel industry.
In 1984, Republic merged into the Jones and Laughlin Steel subsidiary of the LTV Corporation, with the new entity being known as LTV Steel.
In December 2001 LTV filed for Chapter 11 bankruptcy, and a few months later International Steel Group purchased LTV.
External references
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